Menu
Alibaba BABA Shares Priced at $68

Alibaba BABA Shares Priced at $68

The Sexiest Halloween Costumes of 2014

The Sexiest Halloween Costumes of 2014

Mazda Miata 2016 model revealed

Mazda Miata 2016 model revealed

Miley Cyrus New Butt Gets in Trouble with Law

Miley Cyrus New Butt Gets in Trouble with Law

Larry Ellison Steps Down as CEO of Oracle

Larry Ellison Steps Down as CEO of Oracle

Sprint Buys Clearwire

Dec 17 2012, 6:44am CST | by , in News | Technology News

Sprint takes full control of Clearwire.

Sprint Buys Clearwire
 
 

YouTube Videos Comments

Full Story

Sprint Buys Clearwire

Sprint today announced that it has entered into a definitive agreement to acquire the approximately 50 percent stake in Clearwire (NASDAQ: CLWR) it does not currently own for $2.97 per share, equating to a total payment to Clearwire shareholders, other than Sprint, of $2.2 billion. This transaction results in a total Clearwire enterprise value of approximately $10 billion, including net debt and spectrum lease obligations of $5.5 billion.

The transaction consideration represents a 128 percent premium to Clearwire's closing share price the day before the Sprint-SoftBank discussions were first confirmed in the marketplace on October 11, with Clearwire speculated to be a part of that transaction; and, a 40 percent premium to the closing price the day before receipt of Sprint’s initial $2.60 per share non-binding indication of interest on November 21.

Clearwire’s spectrum, when combined with Sprint’s, will provide Sprint with an enhanced spectrum portfolio that will strengthen its position and increase competitiveness in the U.S. wireless industry. Sprint’s Network Vision architecture should allow for better strategic alignment and the full utilization and integration of Clearwire’s complementary 2.5 GHz spectrum assets, while achieving operational efficiencies and improved service for customers as the spectrum and network is migrated to LTE standards.

Sprint CEO Dan Hesse said, “Today’s transaction marks yet another significant step in Sprint’s improved competitive position and ability to offer customers better products, more choices and better services. Sprint is uniquely positioned to maximize the value of Clearwire’s spectrum and efficiently deploy it to increase Sprint’s network capacity. We believe this transaction, particularly when leveraged with our SoftBank relationship, is further validation of our strategy and allows Sprint to control its network destiny.” 

Via Sprint.

 

You Might Also Like

Updates


Sponsored Update


Advertisement


More From the Web

Shopping Deals

 
 
 

<a href="/latest_stories/all/all/2" rel="author">Luigi Lugmayr</a>
Luigi Lugmayr (Google) is the founding chief Editor of I4U News and brings over 15 years experience in the technology field to the ever evolving and exciting world of gadgets. He started I4U News back in 2000 and evolved it into vibrant technology magazine.
Luigi can be contacted directly at ml@i4u.com.

 

 

Comments

blog comments powered by Disqus

Latest stories

Talk like a Pirate Day has finally arrived with its Exaggeration of Accents
Talk like a Pirate Day has finally arrived with its Exaggeration of Accents
Finally, Talk like a Pirate Day, has arrived with its exaggeration of accents by kids (and grownups) trying to impersonate Captain Hook!
 
 
Zoe Kravitz and Chris Pine hook up for Coldplay Concert
Zoe Kravitz and Chris Pine hook up for Coldplay Concert
The sexy and beautiful Zoe Kravitz and the smart and handsome Chris Pine hooked up for a concert given by the band Coldplay at the Ace Hotel in LA.
 
 
The Sexiest Halloween Costumes of 2014
The Sexiest Halloween Costumes of 2014
Halloween is approaching fast. Usually we feature first our annual Top Costumes for Geeks guide, but we stumbled over a new costume that inspired us to do a sexiest Halloween Costumes Guide first.
 
 
Apple&#039;s iPhone 6 &amp; 6 Plus gain radio certification in China
Apple's iPhone 6 & 6 Plus gain radio certification in China
There is still no confirmation about the release date
 
 
 

About the Geek Mind

The “geek mind” is concerned with more than just the latest iPhone rumors, or which company will win the gaming console wars. I4U is concerned with more than just the latest photo shoot or other celebrity gossip.

The “geek mind” is concerned with life, in all its different forms and facets. The geek mind wants to know about societal and financial issues, both abroad and at home. If a Fortune 500 decides to raise their minimum wage, or any high priority news, the geek mind wants to know. The geek mind wants to know the top teams in the National Football League, or who’s likely to win the NBA Finals this coming year. The geek mind wants to know who the hottest new models are, or whether the newest blockbuster movie is worth seeing. The geek mind wants to know. The geek mind wants—needs—knowledge.

Read more about The Geek Mind.